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The Boeing Company Message Board

donwshuper50 393 posts  |  Last Activity: 13 hours ago Member since: Feb 26, 2011
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  • donwshuper50 donwshuper50 13 hours ago Flag

    Probably true- few know what you mean re ' poverty Rock " -But he was in diapers at the time. His mothere spent some time there.

  • donwshuper50 donwshuper50 14 hours ago Flag

    better yet we are now rebuilding it in the same place and with a new lkevy and etc. IMHO, should keep the tourist area and the commercial docks etc and move 90 percent out of area or at least to 30 50 feet above sea level. What we have here is a failure to use common sense-

    But cheer up - YOUR tax dollars at work- support the dimowit of your choice - Hillary, biden , trump ..

  • Reply to

    BA 401K summary of case and why settled

    by donwshuper50 Aug 28, 2015 9:32 PM
    donwshuper50 donwshuper50 21 hours ago Flag

    It affects those who were in any of 4 to 6 funds between approx 2000 and 2007 makes no difference if employee or retiree. The tech fund was not only a fee problem- but a NON prudent choice due to very high risk.

    Boeing actually lied in their published docs as to fees and costs. My guesstimate as to returns to those involved did not include what the ' returns' to investors might be for such actions. Often it is two to three times the actual calculated loss.
    Case 3:06-cv-00743-NJR-DGW Document 223-40 Filed 03/20/09 is one example of false info published by Boeing as is document 213

    Case 3:06-cv-00743-NJR-DGW Document 213-23 Filed 01/15/09

  • donwshuper50 donwshuper50 21 hours ago Flag

    You mean bush and Koch bros forced Hillary to have a non secure non qualified server in her basement ? didn't know the bilderburgers were that powerful !!

  • Reply to

    BA 401K summary of case and why settled

    by donwshuper50 Aug 28, 2015 9:32 PM
    donwshuper50 donwshuper50 Aug 31, 2015 11:27 AM Flag

    Yes the VIP plan is/was a 401K plan. Or do you think the lawyers got it wrong ?

  • Reply to

    BA 401K summary of case and why settled

    by donwshuper50 Aug 28, 2015 9:32 PM
    donwshuper50 donwshuper50 Aug 31, 2015 11:06 AM Flag

    Interesting- The seattle times has zip nada no mention of the BA settlement - although details have not been released- other agencies financial, etc mention it - My estimate is well over 50 million cost to BA including payback mto 170 to 190 K employess invovled between 2000 2006-7 .

    So much for the cowering employees . .

  • donwshuper50 donwshuper50 Aug 30, 2015 11:42 PM Flag

    " 2- Maximum sentence = 20 years- nope up to 10 years per document/email- and paper copies deny metadata..

  • donwshuper50 donwshuper50 Aug 30, 2015 10:18 PM Flag

    Actually mukasey retracted part of his statement re Hillary disqualifed for POTUS- reason- Contitutional qualifications do NOT address crimes, felonys, etc ( that can lead to impeachment- but NOT running orm being elected as POTUS ). Only requirements are age and citizenship- and possibly breathing . .

  • donwshuper50 donwshuper50 Aug 30, 2015 9:19 PM Flag

    .." ndeed, the State Department has confirmed that none of the information that has surfaced on Clinton’s server thus far was classified at the time it was sent or received."

    But it is NOT up to State dept to determine what was classified by another ( ingtel) org. The Org that sends it or writes it or discloses it is the sole authority as to its classification. Three such agencies have alrerady said some of her emails on the server were classified- between confidential and top secret. So the stat edpet can make its own OPINION- BUT IT HAS zip weight. besides which, state has already redacted some on the basis of B-1-() which in Foia code means national security. It is still hillarys probllem. BTW, FBI does not conduct civil issue investigations- Their investigations are re criminal.- and focused on people, not things. Which means they are still determinig who seduced fido - my bet is Huma, Mills, etc - they are toast ..

    ordering a large supply of popcorn- the curtain will rise in a few weeks .

  • Reply to

    BA 401K summary of case and why settled

    by donwshuper50 Aug 28, 2015 9:32 PM
    donwshuper50 donwshuper50 Aug 30, 2015 7:03 PM Flag

    OK comes my SWAG as to average $$ payment per class action participants. Lawyer said 170,000 persons. Low employment number was about 153,000 in 2005. means about 20,000 or so were not involved for all 6 to 8 years under contest. Looking at figures for excessive fees versus the $ 32/person/year figure in 2007 when BA changed, etc, going back to 1999- I come up with $ 1500-$2500 per person ( member of class ) average. and around $50,000,000 actual overpay $$ total. Add in plaintiff lawyer lodestar of 20 percent ( 10,000,000 ) and plaintiff lawyer fees of about the same- and the number comes up to $70,000,000 payout by Boeing. Note that unresolved is effects of BA using tech fund improperly, and screwing over those who had BA stock in 401K ( not too sure what happened or what $$ figure involved ) Now add in possible probable FINES for BA, and the number could easily be $ 100,000,000 BA will have to shell out ( not including in house hired attorneys, etc ) - Thats MY SWAG.

    I'll post some of the other goodies from the court docs - page 409 in a bit

  • donwshuper50 donwshuper50 Aug 29, 2015 11:23 PM Flag

    Koine Greek for the New testament Aramaic for the Old testament

  • donwshuper50 donwshuper50 Aug 29, 2015 7:37 PM Flag

    " Clinton has repeatedly defended her handling of the material by claiming none of the emails were marked classified at the time they were sent."

    Knowledgeable security and legal types claim that excuse is not worth the breath to utter it - espeically in court and along with ' wiping" the server knowing of pending/possible litigation going back to intial questions re benghazi. Hillary will skate- but Huma and C mills should now hire Martha stewert to assist on how to spruce upm window bars. Or possilby if faced with 30 to 50 years or more in club fed will drop a dime ...

    Buy stock in popcorn and your favorite drink- it'sl be a while before the routund lady sings ..

  • Reply to

    BA 401K summary of case and why settled

    by donwshuper50 Aug 28, 2015 9:32 PM
    donwshuper50 donwshuper50 Aug 29, 2015 7:32 PM Flag

    Of course there is also the higher fund management fees by maybe 1 to 2 percent, plus the loss of gains on the say $100/year ,etc. I'm trying to figure aout what part of the filing to extracdt to get a better estimate- and also unknown to me at the moment is the Tech fund fiasco and the losses involved. Dont know if that is part of the settlement. That amount could be significant. And it depends on how far back they will go- perhaps to 1997 thru 2007 ( about 10 years ). for about 170K employees. Normally lawyers get 15 to 20 percent of the settlement plus attorney fees. My SWAG at the moment is still around $ 1K to 2K per average person who was in one or more of the 4 to 5 funds in the complaint. There appears to be NO question that BA settled due to the SCOTUS case, because it became obvious they would lose- and have to pay out even greater $$ re penalties. Nothing personal - just business.

  • Reply to

    BA 401K summary of case and why settled

    by donwshuper50 Aug 28, 2015 9:32 PM
    donwshuper50 donwshuper50 Aug 29, 2015 4:48 PM Flag

    Appeals court allows Boeing 401(k) plan case to proceed as class action.
    Schlichter Bogard & Denton
    Press Release
    12/18/2013

    On November 26, 2013, the Seventh Circuit Court of Appeals rejected the Boeing Company’s request to appeal the order of Chief Judge David R. Herndon of the United States District Court for the Southern District of Illinois, which granted class certification to participants in Boeing’s 401(k) Plan, one of the largest in the United States, for their claims that Boeing personnel responsible for managing the plan breached their fiduciary duties under the Employee Retirement Income Security Act (“ERISA”). Spano v. Boeing Co., No. 13-8026 (7th Cir.). Schlichter, Bogard & Denton has been appointed class counsel for the participant class, which consists of 170,000 Boeing employees and retirees. The ruling clears the way for the class to proceed to a resolution of their claims that the 401(k) plan had excessive fees and imprudent investment options.

  • donwshuper50 donwshuper50 Aug 29, 2015 3:52 PM Flag

    ERISA Section 413
    § 1113. Limitation of actions
    
No action may be commenced under this subchapter with respect to a fiduciary's breach of any responsibility, duty, or obligation under this part, or with respect to a violation of this part, after the earlier of--
    (1) six years after (A) the date of the last action which constituted a part of the breach or violation, or (B) in the case of an omission the latest date on which the fiduciary could have cured the breach or violation, or
    (2) three years after the earliest date on which the plaintiff had actual knowledge of the breach or violation;
    except that in the case of fraud or concealment, such action may be commenced not later than six years after the date of discovery of such breach or violation.
    Category:
    • ERISA

  • donwshuper50 donwshuper50 Aug 29, 2015 2:59 PM Flag

    Schlichter explains that he represents employees and retirees of Edison International. The 401(k) plan involves several billion dollars. Schlichter says that the contention is that plan participants should get better rates than “retail fees that a $500 investor would pay.” The trial judge found one retail fund to be excessively priced, given that institutional rates were available to the company. As to three other similar funds, the judge found that no claim could be brought against Edison because the funds had been in the plan for more than six years.

  • Reply to

    BA 401K summary of case and why settled

    by donwshuper50 Aug 28, 2015 9:32 PM
    donwshuper50 donwshuper50 Aug 29, 2015 2:22 PM Flag

    Boeing also cites declarations of Gary Bland and Tony Cappetto for its argument that no
    actionable misconduct occurred after 1997. Doc. 407 at 3 (citing Doc. 213-51, ¶¶3–9 and Doc.
    213-57, ¶¶3, 5). However, both witnesses left Boeing years before Plaintiffs filed this action.
    Doc. 213-51, ¶1 (Bland resigned July 2001); Doc. 213-57 (Cappetto resigned May 2004). Thus,
    they have no knowledge of how Boeing managed the Plan and funds throughout the limitations
    period and cannot state whether any breach occurred during that time

  • donwshuper50 donwshuper50 Aug 29, 2015 2:18 PM Flag

    Schlichter Bogard & Denton
    Press Release
    12/18/2013

    On November 26, 2013, the Seventh Circuit Court of Appeals rejected the Boeing Company’s request to appeal the order of Chief Judge David R. Herndon of the United States District Court for the Southern District of Illinois, which granted class certification to participants in Boeing’s 401(k) Plan, one of the largest in the United States, for their claims that Boeing personnel responsible for managing the plan breached their fiduciary duties under the Employee Retirement Income Security Act (“ERISA”). Spano v. Boeing Co., No. 13-8026 (7th Cir.). Schlichter, Bogard & Denton has been appointed class counsel for the participant class, which consists of 170,000 Boeing employees and retirees. The ruling clears the way for the class to proceed to a resolution of their claims that the 401(k) plan had excessive fees and imprudent investment options.

  • donwshuper50 donwshuper50 Aug 29, 2015 2:13 PM Flag

    Yo dummy- although the current BA employment is around d 160K, the suit only covers those up till 2006-7 and only or those in since 1997-98. Like most rip and read reporters who don't take the time to read the suit, you continue to spread large quantities of M e r d

    don't have a nice day !

  • Reply to

    BA 401K summary of case and why settled

    by donwshuper50 Aug 28, 2015 9:32 PM
    donwshuper50 donwshuper50 Aug 29, 2015 10:19 AM Flag

    OH BS take it up with the SCOTUS- it depends on the type of claim, as in they miscalculated your benefits and shorted you- you have 5 - 6 years. But if they overpay you- then there is no limit. .
    Please just FOD

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